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KICU
Dec 31, 2012 7:00pm PST
includes a tax hike for u.s. households making for than $250,000 a year. joe biden is at the capitol to brief democrats and there's a possibility the senate could vote tonight. the major remaining issue is how to make budget cuts. >> taxes will go up and the united states will ring in the new year by going over the fiscal cliff. it would increase the state tax, bring back higher tax rates on owners. >> our most immediate priority is to stop taxes going u pstarting tomorrow. i think that is a modest goal we can accomplish. >> reporter: they wanted taxes to go up on couples making $250,000. this deal is a concession as it increases on households. >> it has been clearly a g ood- faith negotiation. we all want to protect taxpayers and we can get it done now. >> reporter: a sticking point is a sequester. more than a trillion dollars in social programs, they say that the market needs structure and certainty, not haggling. it could take a hit if the deal falls a part. with higher taxes, california would spend less and tax r eceipts would drop. the loss of $11 billion in revenues in two years.
KICU
Dec 26, 2012 7:00pm PST
fiscal cliff. raising taxes on us. lowlowering on corporations. plus a special delivery on christmas day. the bay area family that unexpectly had to do it themselves. >> and back here in just a few minutes. and then more showers. we'll see you back here. hey, look! a shooting star! make a wish! i wish we could lie here forever. i wish this test drive was over, so we could head back to the dealership. [ male announcer ] it's practically yours. test drive! but we still need your signature. volkswagen sign then drive is back. and it's never been easier to get a jetta. that's the power of german engineering. get $0 down, $0 due at signing, $0 deposit, and $0 first month's payment on any new volkswagen. visit vwdealer.com today. >>> it's a noisy job but crews are up to the task. many people need to dispose of their tree. free curb side collection will be offered january 2 through the 15 15th on regular trash days. they turn trees into chips that will be converted into boiler fuel. >>> an arrest in a three month old homicide case. was found shot to death at the bay point housing developmen
KICU
Dec 27, 2012 7:00pm PST
they ask you to contact san francisco police >>> as this pushes up to the fiscal cliff, tax payers are saying their frustrating. how much a fall over the cliff could cost you. >> for more and more americans, the fiscal cliff is being used as a failure of government. >> i weigh i figure theépñ on vacation, they don't care. >> i don't think that there ever going to come to an agreement. both parties are so far apart, there's no common ground. >> if you make between $50,000 a year, it goes up. if you make 75 to $100, you'll pay $142 per weekly paycheck. most employers will wait and deduct at the current rate but you'll get slammed with higher rates. >> if they're supposed to be public servants and we can't get a compromise and some is with the right ideology. >> it seems like you're not being represented. you have interest that are overriding the people's concerns and i think that's an example of what happens in congress. >> the tax policy centers say the lowest income folks will see their take home paycheck shrink by 3.5% and average 4% and top earn ers about 6% but that says nothing o
KICU
Dec 26, 2012 11:30pm PST
back to washington to try to reach a last minute deal, before historic tax increases go into effect next week. why some believe we will head over the fiscal cliff before washington takes action. >> reporter: the halls of power empty, although negotiators and the president are back at work. >> at the very least, let's agree right now on what we already agree on. >> reporter: an olive branch to the gop, and carrot to corporate giants. the administration now suggesting cutting corporate tax rates. the u.s. has among the world's highest. but closing loopholes that helped google, for instance, avoid $2 billion in taxes last year. >> corporations are a little concerned. >> reporter: gary is optimistic about a deal. >> i'd still rate it better than 50/50. >> reporter: what seems increasingly likely is to allow the country to go over that fiscal cliff, triggering higher taxes. that would allow hard line republicans to vote for lower taxes, a few days later. >> to make them look better? to appease voters. if that's the reason, great. >> reporter: some call it a low form of political shenanig
KICU
Dec 27, 2012 11:30pm PST
going over the so called fiscal cliff could mean for the taxes that you pay. >> interest rates as high as >>> economic experts say if the country says if the country goes over the so called fiscal cliff it could go back into a recession. the effects could be even worse here in california. >> reporter: californians trying to straighten out the state's finances voted for prop 30. high earning californians will pay higher income taxes for seven years. the fiscal cliffs will hit all americans with much higher taxes and that could lead to an over all u.s. economic downturn. that in term could derail in of the benefits prop 30 may have meant for the state. >> i don't know there's a word to describe how the public is going to be. nobody is going to be happy to see that happen. >> if taxes go up on everybody, it's not going to be a happy time. but i think that's what's inevitably going to happen. >> reporter: average earnings will see 4%, top earners about 6%. that says nothing of lost deductions or other unknowns such as deduction driven pay cuts, lay offs and over all decreased economic
KICU
Dec 24, 2012 11:30pm PST
want to negotiate. >> reporter: that would raise taxes on people making more than $200,000 a year. each making a parting pitch. >> i've asked leaders of congress to work toward a package that prevents a tax hike on middle class americans, prevents unemployment insurance for 2 million americans and lays the ground work for further work on both growth and deficit reduction. >> the presidents solution of raising tax rates would still be ready for as far as the eye can see and it would hurt jobs. >> the partisan bickering has put the country on the brink of a financial crisis. >> it's the first time that i feel it's more likely that we will go over the cliff than not. and that if we allow that to happen it will be the most collosal consequential in a very long time. >> reporter: president obama is in hawaii for christmas. he says he will cut his vacation short to try to hammer out a deal with republicans. i'm andrew spencer reports. >>> fears over if fiscal cliff dampened hopes on the stock market. >>> on the heels of a public outcry, instagram has been hit with with their first civil
KICU
Dec 23, 2012 11:30pm PST
expected to be back in session by thursday. without a deal tax hikes for all americans and deep spending cuts will be triggered on january 1st. >>> the head of the national rifle association today defended his group's refusal to consider any form of gun control. >> look a gun is a tool. the problem is the criminal. every police officer that walks the street knows if you want to control violent crime take violent criminals off the street. >> on friday the nra called for armed guards in schools as the best way to prevent shootings like the one in newtown connecticut. today warner a supporter of gun ownership called for mental health care as a way to protect schools. >>> religion leaders prayed for peace and called for action to prevent gun violence. church members held sunday service then a town hall forum to answer questions and spark discussion. actor and activist danny glover and jeremiah wright. glover says the connecticut shooting has brought a problem dealt with daily, gun violence. >> daily in light of what has happened in newtown connecticut, don't you give up on me. becau
KICU
Dec 30, 2012 11:30pm PST
scheduled cuts and tax hikes are expected to go in effect. >> reporter: the negotiations could come down to the final hours. >> reporter: the house and senate convenienced for a rare sunday session in hopes of bridging major impasses in the negotiations. >> those conversations and discussions continue. and we remain hopeful that that will get a breakthrough. >> i think what we'll do is we'll pass a minimalist bill so this we won't go over the cliff. then i think we have to go from there. >> reporter: on nbc's meet the press, president obama made a final pitch for his plan to preserve bush era tax cuts for everyone but the wealthiest americans. >> regardless of partisan districts, our top priority has to be that taxes on middle class families do not go up that would hurt our economy badly. >> reporter: a major sticking point is the level of which taxes should kick in. that has waivered from $200,000 to $1 million. boehner issued a statement that says republicans have made every effort to reach the balanced deficit agreement that the president promised the american people. we've been
KICU
Dec 28, 2012 7:00pm PST
class from a tax hike. >> reporter: following the high stakes meeting on friday, senate appears to be poise. >> we will work hard to see if we can get there in the next 24 hours. i am hopeful and optimistic. >> i will do everything that i can. i am confident senator will do the same. but everybody, whatever we come up with will be imperfect. some people aren't going to like it. some people will like it less but that is where we are. >> reporter: accept at majority leader reid called senate not to meet on saturday while leaders negotiate. boehner said he will not bring anything in the house unless it passes senate. if it fails to pass, every american will see a tax rate increase and unemployment benefits will go away. >> ordinary people do their jobs, meet deadlines, they sit down and discuss things and then things happen. if there are disagreements they sort through the disagreements. the in addition that our elected leadership can not do the same thing is mind boggling to them. and it needs to stop. >> reporter: in washington,. >>> on wall street, stocks went lower for a 5th day.
KICU
Dec 31, 2012 4:00am PST
2010. "i mean, you're just thinking big. you're not thinking money after taxes or anything realistic, you're just thinking, 'i'm going to get a windfall of cash and this is going to be amazing!'" "it's not a new story for tech employees to have their options underwater. it's just kinda the breaks." in his book "groupon's biggest deal ever," frank sennett details how founding partners like eric levkofsky cashed out some of their shares before groupon's ipo, pocketing hundreds of millions of dollars in the process. "they're the early-stage founders, they're the ones driving the bus. and there are all sorts of lessons that life isn't fair and that's one of them." though the rank and file still holding shares do have at least some hope for some kind of bonus. 'you know, at this point, you may have lost 66%, maybe 75%. is there a chance you're going to lose that extra 25%? yes there is, but it needs to go down another 100% from here.' knispel has pretty much cashed out 'i didn't get to buy a plane or a boat or anything' and bowman has moved on as well. 'i did have the cash to re
KICU
Dec 31, 2012 11:30pm PST
. >>> republicans and democrats have announced they have reached a deal on the tax issues that comprize half of the fiscal cliff equation. however, it's only a deal in principle. the deal raises the tax rate from 35% to more than 39% for households making more than $450,000 a year. but it puts off decisions on $110 billion in across the board spending cuts to military, and domestic programs. we get more now on capitol hill. >> reporter: a very happy new year for the senate, closing out 2012 with a deal. hammering out a compromise on spending cuts. deal or no deal, the u.s. is destined to go over the cliff, because the house convened monday night. earlier in the day, tough words for republicans. >> if republicans think that i will finish the job of deficit reduction through spending cuts alone, if they think that's going to be the formula for how we solve this thing, they have another thing coming. that's not how it's going to work. >> reporter: the deal will extend unemployment benefits, and bring back higher clinton era taxes on top earners. an increase in extensions from households earning $250,0
KICU
Dec 28, 2012 11:30pm PST
meeting with president obama good. taxes go up for all americans and traásic cuts will hit -- and drastic cuts will hit the national budget. >>> the dow fell 158 points, and the nasdaq fell 25 points. >> they may you know want to do something illegal just to put food on the table. >> coming up in 18 minutes finally strapped the hundreds of thousands of people set to feel the impact of the financial cliff starting tomorrow. >>> a sixth suspect has now been charged in connection with a beating and homicide in san francisco where the victims were bound and gagged. ktvu's david stevenson was in court today and tells us for the first time the district attorney talked about a possible motive. >> cameras were not allowed in this san francisco courtroom as prosecutorred announced a sixth suspect in a brutal beating and homicide in which two victims were left beaten and gagged. katherine uong described as a felon nicknamed killer is the first to be charged with the killing. an 18-year-old woman was found with reed also severely beaten she is now recovering. george gascon today signaled a m
Search Results 0 to 11 of about 12